Dear Readers,

On Friday, stock markets experienced a significant uptick as investors resumed their enthusiastic pursuit of equities after a brief stumble at the beginning of the new year. The broader market index also approached its intraday record of 4,818.62, while the Nasdaq-100 achieved a remarkable 0.8% gain, setting a new record high.

Noteworthy market movers included insurance company Travelers, which saw its stock rise by over 4% following an impressive earnings performance. Schlumberger N.V. also posted strong results, with a nearly 2% increase in its stock price, surpassing expectations on both revenue and profit. Ally Financial enjoyed a substantial surge of 9.4% after announcing robust quarterly results and the sale of a business unit to Synchrony Financial.

In terms of consumer sentiment and economic indicators, fresh data on Friday revealed that consumers are growing more confident in the economy and less concerned about inflation. The University of Michigan's Survey of Consumers reported a remarkable year-over-year increase of 21.4%, reaching its highest level since July 2021. However, the real estate market showed signs of cooling off as home sales declined by 1% month-over-month in December 2023. This decline marked 2023 as the worst year for full-year sales since 1995, according to the National Association of Realtors.

As of 12:04 PM ET, the Dow was up 128.2617 points, or 0.3423%, at $37596.87. The Nasdaq Composite added 151.8731 points, or 0.8943%, at $17134.162. The S&P 500 rose 22.6401 points, or 0.4735%, at $4803.58. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Materials leading the way with a -0.67% decrease.

Top Movers: Under $10

Mesa Air Group Inc. (MESA) is up 57.77% today to trade at the current level of $1.01. This comes after the company announced an agreement with United Airlines (UAL).

Processa Pharmaceuticals Inc (PCSA) zoomed 20.30% in today’s trade to $0.24 after announcing that it plans to expand the development of Next Generation Capecitabine (“NGC-Cap”) into the treatment of advanced or metastatic breast cancer beginning with its next Phase 2 trial.

In current trading, Spirit Airlines Inc (SAVE) stock is at $7.05 as it looked to reassure investors with improved guidance and steps it has taken to shore up liquidity.

Pinstripes Holdings Inc (PNST) rose 15.95% in the early hours of today's trading to move at $4.29 after reporting preliminary sales results for the fiscal third quarter ended January 7, 2024.

In the current trading session, Treasure Global Inc (TGL) jumped 14.56% to $0.12 over a previous close of $0.10 following an update on a stake in the e-commerce activities company by Vt Smart Venture.

Ex-Dividends Stocks

Dell Technologies Inc (DELL) is about to trade ex-dividend Monday, meaning that investors who buy the stock after Monday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.37 per share. It has fixed January 23 as the record date for the same and will pay the actual dividend on February 02. Last year, the company distributed a total of $1.32 to its shareholders. Based on the last year's worth of payments, DELL has a trailing yield of 1.59% on the current stock price of $82.73.

Another stock that is shelling out dividends on Monday is Dynex Capital, Inc. (DX), having a market capitalization of $706.53M. It will pay a dividend of $0.13 per share, the payment date of which is February 01. Currently, the stock is trading at a trailing dividend yield of 12.51%.

Shares of Gladstone Capital Corporation (GLAD) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.08 per share, and in the last 12 months, it paid a total of $0.96 per share. Last year's total dividend payments show that GLAD has a trailing yield of 8.66% on the current share price of $11.07.

Federated Hermes Premier Municipal Income Fund (FMN) is also set to go ex-dividend on Monday. The next dividend payment from FMN will amount to $0.04 per share. January 23 has been designated as the record date for this dividend, with the actual payout scheduled for February 01. In the previous year, FMN distributed a total of $0.44 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for FMN stands at 4.11% based on the current stock price of $10.77.

Argan, Inc. (AGX) will be paying out a dividend of $0.3 per share to shareholders holding their shares as of the close of the business hours on the record date of January 23. Over the past 12 months, AGX has paid out a total of $1.05 per share in dividends. Based on the total dividends paid out last year, AGX boasts an impressive trailing yield of 2.30% on the current share price of $45.58.

Crypto Market Highlights

Most Shorted Stocks

Sunpower Corp (SPWR) was one of the most shorted stocks as of latest short interest figures, with 30.95% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 3.8. This represents a change of -1720000 shares, which corresponds to a -6.04% decrease in short interest. The total value of the shares held short is estimated to be around $76.0 million. The average daily volume stands at 7.61M shares, and the market capitalization of the company is $497.15M.

The Arbor Realty Trust Inc. with the symbol ABR currently has a short interest of 29.32%. The short interest has changed by -4230000 shares. The days to cover ratio stands at 11.4. The estimated value of the shares held short is approximately $779.86 million. On an average day, 5.03M shares are traded, with the company's market capitalization totaling $2.66B.

With the symbol PLUG, the stock currently has a short interest of 29.94%. The short interest change is 3060000 shares, compared with a short interest percentage change of +1.93%. It would take approximately 4.6 days to cover all the short positions. The company boasts an average daily volume of 38.08M shares, contributing to a market capitalization of $1.50B.

The stock ALLO has a current short interest of 29.55%. The short interest percentage has experienced decrease of -6.65% while there was a change of -2230000 shares in short interest. The ratio indicating the time required to cover short positions is 11.9. Trading activity averages at 2.91M shares per day, while the company's market capitalization stands at $510.73M.

Energy Stocks to Watch

According to our ST Score evaluation, RPC, Inc. (RES) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 60.0. The stock's valuation, profitability, and financial strength are strong. However, its stock sentiment are weak. Additionally, it is neutral in terms of performance, growth, Piotroski Score, and forecast.

Our ST Score also classifies EOG Resources, Inc. (EOG) as a high-quality Energy stock today, presenting a Score of 59.0. The stock has strong fundamentals in terms of financial strength, stock sentiment, and Piotroski Score. The value, profitability, performance, growth, and forecast are neutral.

Another stock in the category, Euronav NV (EURN) has the ST Score of 60.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, financial strength, and Piotroski Score. Value, performance, growth, stock sentiment, and forecast suggest a neutral outlook.

Dorchester Minerals, L.P. (DMLP) stock has the ST Score of 62.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and financial strength, but its weaknesses are in its value. However, it shows neutral outlook in growth, stock sentiment, Piotroski Score, and forecast.

Profire Energy Inc (PFIE) currently has the ST Score of 61.0, which signifies a huge upward potential. The Energy stock's strong points are its profitability, financial strength, stock sentiment, and Piotroski Score, while its weak points are its forecast. The stock's value, performance, and growth indicate a neutral outlook.